Sony Pictures Records $299M Profit In Q2, Off 18% From 2019

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Sony Pictures saw an 18% drop in second quarter profits to $299M from July-September versus the same period in 2019. However, the figures rep an increase on the first quarter’s $230M which ended Ju…

Padre No Hay Mas Que Uno 2Upcoming films expected to release theatrically through the end of the year include. The latter has a good shot at doing strong business in China, but a date has not yet been set. A host of major Sony titles is currently set throughout 2021.

Also in the Pictures division, there were lower revenues from fewer deliveries of TV shows due to production shutdowns resulting from the impact of COVID-19, but higher television licensing and home entertainment revenues. The annual forecast for the Pictures segment increased slightly to 48B yen . The earnings announcement comes a day after Sony Pictures said it was merging theatrical, home entertainment and TV distribution marketing operations which will result in some layoffs.raised its full-year profit forecast from 620B yen to 700B yen , as it reported a 14% increase in profits to 317.8B yen for the quarter. This was aided by the games division where profits were up 40% versus last year’s equivalent period to 105B yen thanks to strong demand during lockdown.

 

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